subject: Comparing India And China [print this page] India and China are two of the biggest countries located in the Asian continent. The following are some of the facts that make India and China economic powerhouses in their own right.
For China:
1.China has recently amassed about US$1 trillion in personal savings and a savings rate of businesses and individuals at close to 50%.
2.The capital city of Shanghai has about 4,000 skyscrapers. Despite such development, nearly 20% of Chinese people live on about just $1 per day. Only 23% of the population are considered to form part of the Chinese middle-class.
3.Chinese annual exports amount to nearly $583 billion. The forty richest people in China are collectively worth US$26 billion. The richest Chinese is Larry Rong Zhijian of the CITIC Pacific Group whose personal worth is pegged at $1.64 billion.
4.China boasts of 100 million Internet loggers. The country also enforces the strictest Internet laws in the world, which metes out jail time for offenders.
For India:
1.India has a savings rate of 26% for both businesses and individuals;
2.In India, the middle class is comprised of Indians between 150 to 200 million individuals. IN stark contrast, about one fourth of its total population lives below the poverty line.
3.India exports about $2 billion worth of goods to one of the biggest retailers in the world.
4.The four richest people in India, namely Premji, the Ambanis, Sunil Mittal has a net worth of more than the top 40 richest Chinese. The richest Indian is Azim Premji and is reportedly worth $10 billion.
5.India has only forty million Internet users but it does not prosecute its users.
Collectively, China and India are the world's most popular states and have the fastest growing economies in the world. The countries are also recognized to have the world's oldest civilizations. There have been many historical accounts of cultural as well as economic relations between the two countries. The greatest vestige of this commercial partnership is the Silk Road of the ancient times.
In recent history, the relations between China and India have been subject to border disputes resulting in three major skirmishes. These include the 1962 Sino-Indian War, the Chola incident of 1967 and the 1987 Sino-Indian Skirmish. These conflicts though have been left in the annals of history and diplomatic relations have been normalized resulting in a milestone agreement making China as the largest trading partner of India. Recently, the two countries have agreed to joint strategic and military exercises.
